The post Ark’s Cathie Wood predicts Trump-led deregulation boost for tech, AI, and crypto appeared on BitcoinEthereumNews.com.

Cathie Wood, the CEO of Ark Investment Management, says Donald Trump’s expected return to the White House could open the floodgates for innovation in tech, artificial intelligence (AI), and cryptocurrency. Speaking on CNN’s Inside Politics Sunday, Wood opened up about what she sees as the suffocating impact of current regulations. She blamed outgoing SEC Chair Gary Gensler for nearly knocking the U.S. off the global crypto map, saying, “The U.S. almost lost our footing in the cryptocurrency world.” Wood believes a Trump-led administration would slash regulations holding back blockchain technology and AI. She called this shift vital for the U.S. to reclaim leadership in technology, comparing the potential transformation to the early days of the internet. “A change in the regulatory system, with both crypto and AI as prime focuses, is going to be quite meaningful,” Wood said. Crypto, AI, and the regulatory reset Wood didn’t stop at crypto. She expanded her view to include robotics, energy storage, and multiomic sequencing as sectors primed for a boost under Trump. The past few years, she argued, have favored only a small handful of mega-cap companies. “In the last four years, we saw massive concentration toward very few stocks,” she explained. But with Trump at the helm, Wood predicts a broadening of market gains, especially for companies pushing the envelope on innovation. The regulatory burden, she said, has been especially damaging to crypto. Gensler’s approach to the SEC has created an environment where innovation struggles to breathe. With deregulation, Wood believes small and medium-sized businesses in emerging industries could finally have their moment. AI, another centerpiece of Wood’s outlook, has faced its own hurdles under restrictive policies. She described it as a platform that needs to be “seized and harnessed” before other countries take the lead. A Trump administration, she suggested, could…

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Filed under: News - @ December 1, 2024 8:21 pm